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The Union of European Football Association Control on Football Club Transfer Fees and Wages - Term Paper Example

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The paper "The Union of European Football Association Control on Football Club Transfer Fees and Wages" investigates whether the UEFA should limit the amount a football club can spend on transfers and wages despite the limitations this would put on the potential of a club to grow…
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The Union of European Football Association Control on Football Club Transfer Fees and Wages
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Download file to see previous pages Without a regulatory body looking into the spending habits on transfer fees and wages, most of the relatively small clubs would find it difficult to compete with the big boys. The financially well off clubs would spend lots of money to sign world-class players and offer them fat paychecks (Conn 2010, p.32).
Regulating how clubs spend their money on buying and paying players can only be done through wage caps. A wage cap defines an agreement that puts a lid on the amount of money that any sporting organization or club can use on paying players. A wage cap could either be a per-player limit or an entire team limit or both. UEFA s response to this was to formulate the UEFA Financial Fair Play Regulation in 2009. This process got undertaken by the Financial Control Panel wing of the governing entity (Conn 2010, p.32).
Over the last decade, football clubs in Europe have picked up reckless spendthrift tendencies while utterly casting a blind eye to the financial logic by spending lots of cash for overnight success. This school of thought from the football club board members, to extend enormous transfer kitties to club managers thereby allowing them to offer extortionist transfer fees and wages, has led to many clubs getting into debt. UEFA, through the UEFA Financial Fair Play Regulation, should stipulate the amount of money that ought to be spent by clubs so as to protect clubs from biting off more than they can chew. This will prevent many professional football clubs from spending much more than the income, hence avoiding getting into financial problems.
Without these regulations, more teams are likely to overspend in pursuit of short term winning, rather than giving priority to long term stability. This common business practice of poor risk benefits analysis risks the fortunes of the club and weakens the reputation of the whole league.    ...Download file to see next pagesRead More
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